Midday Movers: Apple, JPMorgan, Herbalife & More

Apple shares were lower as CEO Tim Cook testified before a Senate Subcommittee hearing on U.S. tax policy on overseas profits for corporations.

JPMorgan Chase moved up after a shareholder proposal to split the roles of Chairman and CEO was narrowly defeated.

Herbalife was halted and then moved higher after the company announced PricewaterhouseCoopers as its new auditor. Herbalife also said that PricewaterhouseCoopers would re-audit the company's financial statements from 2010, 2011, and 2012.

Insurance company Travelers was the weakest stock on the Dow. Home Depot was the biggest gainer.

Solar stocks were active, including Yingli Green which was up sharply after reporting preliminary first-quarter results. JA Solar hit another 52-week high after posting quarterly loss on Monday.

Philip Morris International was lower after saying it would buy out billionaire Carlos Slim's Grupo Carso from their joint venture for about $700 million.

In an analyst note, Goldman Sachs lowered its PC forecast and raised its outlook for tablets. Goldman now sees PC units declining by 6.8 percent in 2013, down from prior forecast of 3.8 percent. Apple, EMC, and IBM are Goldman's favorite names, but the firm says to avoid "hefty PC, server or printing exposure" and has "sell" ratings on HP, Lexmark and QLogic.

GameStop was lower despite a research note from Sterne Agee that raised the price target on the video game retailer to $46 from $35 per share, and kept its "buy" rating.